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美高域集团有限公司(01985.HK)新股认购速递

MGM Group Co., Ltd. (01985.HK) new shares subscription express delivery

興證國際 ·  Feb 27, 2017 00:00  · Researches

Business and related information

Metro Group is a Hong Kong-based provider of IT infrastructure solutions, which has been in operation since 1991, providing customers with 1) IT infrastructure solution services and 2) IT management services.

After considering the benefits of undertaking large contracts, such as raising public awareness and the reputation of the customers of these contracts are likely to be good, by the end of

During the three years ended March 2016 and the five months ended August 2016, the larger number of large contracts undertaken by the Group has become part of the Group's business strategy. The number of contracts with a contract value of $10 million or more has increased from three in the year ended March 2014 to 12 in the year ended March 2016.

Mainly as the main contractor, providing services directly to end users.

There are customers from both the public and private sectors, including the Hong Kong Government and customers from public institutions, educational institutions and non-profit-making organizations, while the private sector includes commercial customers from the banking and financial services, telecommunications and media sectors, transport and information technology sectors, and so on.

Main risk factors

Depending on recruiting and retaining qualified employees, any shortage of manpower or increase in direct staff costs may seriously hinder the operation of the business.

May encounter cost overruns or delays in service contracts for IT infrastructure solutions.

The disclosure or improper use of confidential information handled by the company or subcontractor may damage the company's reputation and business operations.

Valuation: the 2016 historic price-to-earnings ratio is 11.53-14.04 times according to the stock price range. The unaudited pro forma adjusted net tangible assets per share ranges from HK $0.55 to HK $0.60.

The translation is provided by third-party software.


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